The RISE Act would modify federal tax law to cap the tax rate on long-term capital gains at 15 percent. Currently, the tax code allows for higher capital gains tax rates in certain situations; this bill eliminates that provision and ensures no capital gains are taxed above 15 percent. The legislation primarily benefits investors and business owners who earn income from selling stocks, real estate, and other investments. If passed, the changes would take effect starting with the tax year following the bill's enactment. The bill does not specify new funding or spending requirements, but it would reduce federal tax revenue by allowing lower tax rates on investment income.
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